Economy of Latvia. Statistics, Data and Indicators

Latvia
69A- | Credit rank #39 |
N/A | Quality of life # |
39 | Corruption rank#41 |
19 | Ease of doing business#19 |

Latvia Major Economic Indicators
Indicator | Data | Period |
---|---|---|
GDP Value | 41.15 USD Billion | 2022 |
GDP Annual Growth Rate | -0.5 % | 2Q/23 |
GDP Growth Rate | -0.3 % | 2Q/23 |
GDP per capita | 16947 USD | 2022 |
Inflation Rate YoY | 3.3 % | Sep/23 |
Interest Rate | 4.5 % | Sep/23 |
Unemployment Rate | 6.4 % | 2Q/23 |
Wages | 1128 EUR/Month | 1196.69 USD/Month | Jun/23 |
Balance of Trade | -411 EUR Million | -0.436 B USD | Aug/23 |
Current Account | -57 EUR Million | -0.06 B USD | Jul/23 |
Foreign Exchange Reserves | 4376 USD Million | 4.376 B USD | Sep/23 |
Government Debt | 17101 EUR Million | 18.142 B USD | 1Q/23 |
GDP Indicators
Indicator | Data | Period |
---|---|---|
GDP Value | 41.15 USD Billion | 2022 |
GDP Annual Growth Rate | -0.5 % | 2Q/23 |
GDP Growth Rate | -0.3 % | 2Q/23 |
GDP per capita | 16947 USD | 2022 |
Gross National Product | 9844 EUR Million | 10.443 USD Billion | 2Q/23 |
GDP Constant Prices | 7232669 EUR Thousand | 7.673 B USD | 2Q/23 |
GDP per capita PPP | 32733 USD | 2022 |
GDP From Agriculture | 287583 EUR Thousand | 0.305 B USD | 2Q/23 |
GDP From Construction | 318132 EUR Thousand | 0.338 B USD | 2Q/23 |
GDP From Manufacturing | 846315 EUR Thousand | 0.898 B USD | 2Q/23 |
GDP From Mining | 162738 EUR Thousand | 0.173 B USD | 2Q/23 |
GDP From Public Administration | 483626 EUR Thousand | 0.513 B USD | 2Q/23 |
GDP From Services | 919099 EUR Thousand | 0.975 B USD | 2Q/23 |
GDP From Transport | 458174 EUR Thousand | 0.486 B USD | 2Q/23 |
Budget Indicators
Indicator | Data | Period |
---|---|---|
Government Debt to GDP | 40.8 % | 2022 |
Government Budget Value | -14215982 EUR | -0.015 USD Billion | Aug/23 |
Government Spending | 1525580 EUR Thousand | 1.618 USD Billion | 2Q/23 |
Government Debt | 17101 EUR Million | 18.142 USD Billion | 1Q/23 |
Government Revenues | 1314457 EUR Thousand | 1.395 USD Billion | Aug/23 |
Fiscal Expenditure | 1333892 EUR Thousand | 1.415 B USD | Aug/23 |
Government Budget to GDP | -4.4 % | 2022 |
Government Spending to GDP | 40.2 % | 2022 |
Military Expenditure | 849 USD Million | 0.849 B USD | 2022 |
Inflation Indicators
Indicator | Data | Period |
---|---|---|
Consumer Price Index (CPI) | 144 index points | Sep/23 |
Export Prices | 133 index points | Jul/23 |
Food Inflation | 5.7 % | Sep/23 |
Gasoline Prices | 1.85 USD/Liter | Sep/23 |
GDP Deflator | 1.41 % | 2Q/23 |
Import Prices | 112 index points | Jul/23 |
Inflation Rate YoY | 3.3 % | Sep/23 |
Producer Prices | 154 index points | Aug/23 |
Inflation Rate Mom | -0.4 % | Sep/23 |
Core Consumer Prices | 130 Index Points | Jul/23 |
Core Inflation Rate | 8.1 % | Aug/23 |
CPI Housing Utilities | 162 Index Points | Sep/23 |
CPI Transportation | 135 Index Points | Sep/23 |
Harmonised Consumer Prices | 144 Index Points | Aug/23 |
Producer Prices Change | -8.9 % | Aug/23 |
Trade Indicators
Indicator | Data | Period |
---|---|---|
Current Account to GDP | -6.4 % | 2022 |
Balance of Trade | -411 EUR Million | -0.436 USD Billion | Aug/23 |
Capital Flows | 129000 EUR Thousand | 0.137 USD Billion | 2Q/23 |
Current Account | -57 EUR Million | -0.06 USD Billion | Jul/23 |
Exports | 1467 EUR Million | 1.556 USD Billion | Aug/23 |
External Debt | 39950 EUR Million | 42.383 USD Billion | 2Q/23 |
Foreign Exchange Reserves | 4376 USD Million | 4.376 USD Billion | Sep/23 |
Imports | 1878 EUR Million | 1.992 USD Billion | Aug/23 |
Money Indicators
Indicator | Data | Period |
---|---|---|
Bank Lending Rate | 6.37 % | Jul/23 |
Gold Reserves | 6.66 Tonnes | 2Q/23 |
Interbank Rate | 0.17 % | Oct/23 |
Interest Rate | 4.5 % | Sep/23 |
Loans to Private Sector | 4871 EUR Million | 5.168 USD Billion | Aug/23 |
Money Supply M0 | 11050 EUR Million | 11.723 USD Billion | Aug/23 |
Money Supply M1 | 16511 EUR Million | 17.516 USD Billion | Aug/23 |
Money Supply M2 | 19782 EUR Million | 20.987 USD Billion | Aug/23 |
Central Bank Balance Sheet | 25507 EUR Million | 27.06 B USD | Aug/23 |
Foreign Direct Investment | 150 EUR Million | 0.159 B USD | Jul/23 |
Labor Indicators
Indicator | Data | Period |
---|---|---|
Minimum Wages | 620 EUR/Month | 657.755 USD/Month | 3Q/23 |
Retirement Age Men | 64.25 | 2022 |
Retirement Age Women | 64.25 | 2022 |
Unemployment Rate | 6.4 % | 2Q/23 |
Wages | 1128 EUR/Month | 1196.69 USD/Month | Jun/23 |
Youth Unemployment Rate | 9 % | Aug/23 |
Employed Persons | 888 Thousand Person | 0.888 Million Person | 2Q/23 |
Employment Change | -0.1 % | 2Q/23 |
Employment Rate | 64.4 % | 2Q/23 |
Full Time Employment | 783 Thousand Person | 2Q/23 |
Job Vacancies | 25004 | 25.004 K | 2Q/23 |
Labor Force Participation Rate | 68.8 % | 2Q/23 |
Long Term Unemployment Rate | 1.9 % | 2Q/23 |
Part Time Employment | 53.4 Thousand Persons | 2Q/23 |
Unemployed Persons | 49095 Persons | 0.049 Million Persons | Aug/23 |
Taxes
Indicator | Data | Period |
---|---|---|
Corporate Tax Rate | 20 % | 2023 |
Personal Income Tax Rate | 31 % | 2023 |
Sales Tax Rate | 21 % | 2023 |
Social Security Rate | 34.09 % | 2023 |
Social Security Rate For Companies | 23.59 % | 2023 |
Social Security Rate For Employees | 10.5 % | 2023 |
Production Indicators
Indicator | Data | Period |
---|---|---|
Electricity Production | 134 GWh | Jul/23 |
Industrial Production | -4.9 % | Aug/23 |
Mining Production | -27.3 % | Aug/23 |
Industrial Production (MoM) | 1.7 % | Aug/23 |
Business Indicators
Indicator | Data | Period |
---|---|---|
Business Confidence | -7.6 index points | Aug/23 |
Corruption Index | 59 index points | 2022 |
Corruption Rank | 39 place | 2022 |
Ease of Doing Business | 19 place | 2019 |
Manufacturing Production | -3.8 % | Aug/23 |
Competitiveness Index | 66.98 Index Points | 2019 |
Competitiveness Rank | 41 | 2019 |
Economic Optimism Index | 94.5 Index Points | Aug/23 |
Consumer Indicators
Indicator | Data | Period |
---|---|---|
Consumer Confidence | -11.3 index points | Aug/23 |
Retail Sales MoM | -0.4 % | Aug/23 |
Retail Sales YoY | -2.7 % | Aug/23 |
Consumer Credit | 509 EUR Million | 0.56 USD Billion | Dec/18 |
Consumer Spending | 4253117 EUR Thousand | 4.512 USD Billion | 2Q/23 |
Households Debt To Income | 29.18 % | 2021 |
Housing Market
Indicator | Data | Period |
---|---|---|
Construction Output | 15.4 % | 2Q/23 |